Foreclosure notices have been on the rise in the past year, but actual bank repossessions remain scarce. That may be starting to change. After a steady yearlong rise, foreclosures are nearly back to pre-pandemic levels. More than 34,000 properties had foreclosure-related filings in August, up 14 percent from the previous month and more than double … Read more
Someone you know bought a lemon and now it’s too late. Here’s how to help them cope. With the housing market in an uber-froth, you probably know someone who bought a house without performing a home inspection. This new buyer is like the starry-eyed bride or groom on “Married at First Sight.” Like the marriages … Read more
Not until next year do Fannie Mae’s Economic and Strategic Research Group economists expect to see a ‘a large deceleration in home price growth,’ with some regions likely to see price declines After the biggest surge in mortgage rates in 40 years, houses are now less affordable than they were at the peak of the … Read more
Existing-home sales declined for the third-consecutive month in April, decreasing by 2.4 percent from the previous month and by 5.9 percent from the year before as homebuyers turned away in the face of declining affordability as a result of rising home prices and mortgage rates. Total existing-home sales decreased to a seasonally adjusted annual rate … Read more
Existing-home sales decreased by 2.4% from March and 5.9% from the year before as declining affordability continued to put off homebuyers, according to the National Association of Realtors Existing-home sales declined for the third-consecutive month in April, decreasing by 2.4 percent from the previous month and by 5.9 percent from the year before as homebuyers … Read more
Zillow Senior Economist Jeff Tucker is skeptical that a housing bubble is looming, but he worries such talk could hurt future buyers in need of homebuilders to continue producing new inventory What started out as a rather staid academic exercise ended up turning heads across the real estate industry with its rather bold conclusion. We … Read more
Worried about a housing market correction wreaking havoc on your real estate investments? Look to buy properties at a discount during downturns, and hold them as income properties for the foreseeable future. Once housing markets pick up steam again, you can reassess your options. Between high inflation, rising interest rates, recession fears, and a stumbling … Read more
While rising mortgage rates add a new layer of stress to buyers, fewer bidding wars can counterbalance affordability. First-time home buyers Courtney Culbreath and her husband, Tyler Graham, say they’ve been helped and hurt by the fast-moving housing market that is simultaneously cooling down soaring demand yet ratcheting up mortgage rates, which had been rock … Read more
If you have ever watched a home improvement show, you know a lot goes into flipping a property to turn a profit. You might also think that all flips or investment properties will be successful in making money, but that’s not always the case. Affordability, financing and the expected return on investment are key factors … Read more
After a brief dip below 5 percent for the first time in four months, the 30-year fixed rate shot above that level this week. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average jumped to 5.22 percent with an average 0.7 point. (A point is a fee paid to a … Read more
